Shrinking Profit Margins for Dealerships

THE CHALLENGE:
SHRINKING PROFIT MARGINS

Margin compression is a reality of doing business, but more efficient tools and processes can help you reclaim profits.

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WHAT’S SHRINKING YOUR MARGINS:

High overhead costs

With an average of 6.8 third-party software integrations,1 dealers pay an estimated $42,000 in overhead costs every year.2

Employee turnover

Nearly one out of two employees leaves every year, costing your dealership an average of $45,000 each.3

Missed revenue opportunities

Dealers need to see all deal and profit margin scenarios when structuring deals.

SOLUTIONS THAT WILL HELP:

DMS
Dealertrack DMS
Dealertrack F&I
Desking on Dealertrack F&I
Dealertrack F&I
Menu on Dealertrack F&I
Dealertrack Accelerated Title
Dealertrack Accelerated Title
Dealertrack Registration & Title
Dealertrack Registration & Title
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Dealertrack DMS

Drive profitability with new and better ways to work.

Show me how

Create more efficient workflows

Dealertrack DMS integrates with almost every third-party solution so you can work faster and more efficiently.

Uncover inefficiencies

Dealertrack Performance Managers help you glean insights from DMS data, so you can focus your efforts on the most important fixes.

Reduce costs

Unlike some DMS platforms, Dealertrack DMS doesn’t charge you to access your own data, and it offers reduced data integration fees.

Desking on Dealertrack F&I

Desk deals faster and more profitably.

Show me how
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Make more money on every deal

Deal structuring is up to 35% faster on the Dealertrack F&I platform.4

Generate options faster

Dealertrack F&I displays all scenarios in a single view so you can quickly and easily compare options to present to customers in seconds.

Dealertrack Accelerated Title

The only solution in the industry to speed payoff and title release process in as fast as 4-6 days.

Show me how
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Move inventory faster

Faster title receipt helps you move your inventory faster — and vehicles are nearly two times more likely to sell on first pass at auction when they are accompanied by their title.5

Reduce holding costs

Moving inventory quicker reduces holding costs and protects your profitability.

Increase back-office efficiency

Streamlined processes will help your employees do more in less time, making every workday more profitable.

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Dealertrack Registration & Title

Cut everything that’s been cutting into your bottom line.

Show me how

Speed up the process

Intuitive software helps to handle important tasks, helping your back-office maximizing productivity.

Widen your market

Comprehensive workflow management tools help you with DMV and state rules and regulations for both in-state and out-of-state deals.

Other Challenges?

  • My customers are waiting too long.
  • I'm paying too many fees.
  • Title releases take too long.
  • I'm drowning in data entry.
  • Our technology is outdated.
  • I'm basing decisions on bad data.
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NEWS AND ALERTS!

Economic Outlook & Digital Strategies for Lenders

Dealertrack and AFSA share market updates and insights to help you navigate the current business landscape.

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5 Must-Dos for Dealerships

Sell smarter & improve operational efficiencies with these "must-do" actionable steps.

Read the ebook
COVID-19 UPDATE – State by State DMV Operating Status

Many of the DMV’s need to take some time to understand how they will handle specific transaction types as they adjust their operating procedures. We are taking action to make sure that we can maintain state-by-state registration and titling processing whenever possible.

Learn More
Dealertrack F&I Daily Insights
In today’s marketplace, we are all looking for insights to help us plan more effectively. At Cox Automotive, our common goal is to help partner and provide data that may assist in your current planning.
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References
  1. 2017 Cox Automotive Community Poll (small base)
  2. Avg. $500/month x 7 third-party apps x 12 months = $42,000/year
  3. NADA, “2016 NADA Dealership Workforce Study.”
  4. Comparison of all workflows, Dealertrack F&I vs. Dealertrack classic platforms, internal time trials Jan 2019.
  5. 2014 (2X) & 2018 (1.6X) Manheim Articles “Impact of Delayed Titles at Auction”